The following question are based on the following graph illustrating the market for scallops:

-The equilibrium price is ________ per pound.

Question

The following question are based on the following graph illustrating the market for scallops:
 
-The equilibrium price is ________ per pound.

Quizplus · Accepted Answer

The equilibrium point is where the supply and demand curves intersect. In this graph, the equilibrium point is at a price of $9 per pound, which is where the quantity supplied (Q_S) equals the quantity demanded (Q_D). Therefore, the answer is C) $9.

The Following Question Are Based on the Following Graph Illustrating